Wednesday, October 19, 2016

New study finds freelance economy grew to 55 million Americans this year, 35% of total U.S. workforce

Largest independent
workforce survey — commissioned by Upwork and Freelancers Union —
reveals new insights into freelancing in AmericaKey findings: Freelancers earned an
estimated $1 trillion this year, are a highly motivated voter bloc
eager to support 2016 candidates who speak to their issues

NEW YORK and MOUNTAIN VIEW, Calif. – October 6, 2016 – Upwork in partnership with Freelancers Union today released the results of “Freelancing in America: 2016,”
the most comprehensive measure of the U.S. independent workforce. The
study analyzes the size of the freelance economy and provides insights
into the lives of independent workers and their potential impact on the
2016 Presidential Election. The third annual year of the study is a
landmark year since trend data is now available. “The freelance workforce is the
fastest-growing component of the economy. Figuring out where it is going
is the most pressing question of our digital age. Working together,
Upwork and Freelancers Union are asking the questions that matter, and,
through their unique position, finding the answers that we all want to
know,” said Louis Hyman, Associate Professor and Director of the
Institute for Workplace Studies, Cornell University School of Industrial
and Labor Relations.

Most notable trends the study reveals:

Freelancing is growing –
The freelance workforce grew from 53 million in 2014 to 55 million in
2016 and currently represents 35% of the U.S. workforce. The freelance
workforce earned an estimated $1 trillion this past year, representing a
significant share of the U.S. economy.

People are increasingly freelancing by choice as the job market changes
– Asked whether they started freelancing more by choice or necessity,
63% of freelancers said by choice — up 10 points (from 53%) since 2014.
The majority of freelancers said that today, having a diversified
portfolio of clients is more secure than having one employer.

Technology is enabling freelancing
– 73% of freelancers said that technology has made it easier to find
freelance work — up 4 points (from 69%) since 2014. Additionally, 66% of
freelancers said the amount of work they have obtained online has
increased in the past year.

Freelancers and the 2016 elections:

Freelancers will turn out at the polls – 85% of freelancers said they are likely to vote (47 million voters).

Current candidate preference –
45% of freelancers said they’d vote for Hillary Clinton, 33% said
they’d vote for Donald Trump, 9% said they’d vote for Gary Johnson, and
12% said they were undecided (among freelancers who said they’re likely
to vote).

Candidates can win freelancers’ votes – 68% of freelancers said they’d be more likely to vote for a candidate who supported their interests.

Messages that resonate most with freelancers – 67%
of freelancers are more likely to vote for candidates who say they
support them having “a strong voice in deciding issues about their work”
or “having access to health and retirement benefits regardless of their
employment status.”

Desire for more discussion of freelancers’ interests –
70% of freelancers said we need more open discussion of how to empower
the independent workforce, up 7 points (from 63%) since 2015.

“Freelancers want to know that America
supports them,” said Upwork CEO, Stephane Kasriel. “Independent
professionals are an increasingly integral part of the U.S. workforce.
We should be addressing their interests or America will fall behind
countries that are better equipping their evolving workforces. This
discussion is tricky though because there is no shortcut to
understanding who a ‘freelancer’ is — the independent workforce is
diverse given each individual’s freedom to create their own path. Though
blanket statements are treacherous, this study is our effort to help
open up more discussion and increase understanding.”

“This year’s survey shows that
freelancers are a diverse but vital part of the U.S. economy,
contributing over $1 trillion in freelance earnings to the economy. As
their ranks continue to swell, they have come to represent a largely
untapped voter bloc that could have huge implications for our political
system. Highly motivated and eager to support the candidate that speaks
to their needs as freelancers, their votes could be make-or-break in
this year’s elections, particularly if the polls continue to tighten.
Now’s the time for business
leaders, policy makers and candidates alike to stand up and take notice
of their potential influence and to start developing ways to help them
overcome the most pressing issues impacting their lives,” said
Freelancers Union Founder and Executive Director, Sara Horowitz.

Other study findings reveal the forces both motivating and inhibiting growth of the freelance workforce:Motivating growth of freelancingMore than three-quarters (79%) of
freelancers said they view freelancing as better than working at a
traditional job with an employer. In fact, freelancers were much more
likely to describe themselves as “engaged” in their work than
non-freelancers (85% of freelancers vs. only 68% of non-freelancers).
Half of freelancers (50%) said they wouldn’t go back to a traditional
job, no matter how much pay they were offered.

People freelance for freedom and
flexibility. Among full-time freelancers, the top three reasons people
said they freelance in rank order were: 1) To be their own boss, 2) To
have work schedule flexibility and 3) To have work location flexibility.
77% of freelancers agree
freelancing provides a good work-life balance. On average, full-time
freelancers work 36 hours per week, and the majority (52%) say they have
the right amount of work.

Perceptions of freelancing are also
changing. 59% of freelancers think the freelance job market has changed
as compared to three years ago. Of these, 63% said perceptions of
freelancing as a career are becoming more positive, and 60% said
freelancing has become more respected as a career path. Nearly
half (46%) of full-time freelancers raised their rates in the past
year, and more than half (54%) plan to raise them next year.
The majority of freelancers said that today, having a diversified
portfolio of clients is more secure than having one employer.

Holding back growth of freelancing Income predictability and related issues
are most on freelancers’ minds. Among full-time freelancers, top
concerns in rank order were: 1) Being paid a fair rate, 2) Unpredictable
income and 3) Debt. Benefits was also a key issue, with
20% of full-time freelancers without health insurance and 54% of those
who purchase health plans on their own paying more than the previous
year. When it comes to benefits,
two-thirds of freelancers also said they would prefer to purchase
benefits on their own versus 34% who would prefer receiving a benefits
package from an employer or client and taking home less pay.

About Freelancing in America: 2016To see further insights, please visit the results deck here.
The study is conducted by independent research firm Edelman
Intelligence. More than 6,000 U.S. working adults over the age of 18
were surveyed for it online between July 29, 2016 – August 24, 2016. Of
those, 2,049 were freelancers and 3,953 were non-freelancers. Results
are weighted to ensure demographic representation in line with the
United States Bureau of Labor Statistics’ 2016 Labor Force Statistics
from the Current Population Survey and the American Community Survey.
The study has an overall margin of error of ±1.27% at the 95% level of
confidence.

About UpworkUpwork
is the world’s largest freelancing website. As an increasingly
connected and independent workforce goes online, knowledge work —like
software, shopping and content before it— is shifting online as well.
This shift is making it easier for clients to connect and work with
talent in near real-time and is freeing professionals everywhere from
having to work at a set time and place.Freelancers are earning more than $1
billion annually via Upwork. Upwork is headquartered in Mountain View,
Calif., with offices in San Francisco and Oslo, Norway. For more
information, visit our website at www.upwork.com, join us on Twitter, Facebook and LinkedIn.

About Freelancers UnionFreelancers Union’s 300,000 members
believe all workers should have the freedom to build meaningful,
connected, and independent lives – backed by a system of mutual and
public support. More than one in three working Americans is an
independent worker. That’s 55 million people – and growing. They are
lawyers and nannies, graphic designers and temps. Freelancers Union
serves the needs of this growing independent sector. For more
information, visit www.freelancersunion.org.

Thursday, October 13, 2016

No matter how old you are, it is never too early to think about your
retirement. When you reach the right age for retirement, you want to
kick back and have fun with your family without worrying about how
you'll pay for your mortgage, cover your bills or even handle your
medical expenses. Even those in their early 30s and those just starting
out in their first jobs can begin thinking about and planning for their
retirement years. There are a few easy and simple ways in which you can
start today.

Spend More

When you borrow money for your first home, you have the option of taking
out a mortgage that lasts for 10 years to 30 years or more. With a
fixed rate mortgage, the lender will charge you the same interest rate
until you pay off the loan. With an adjustable rate mortgage, the lender
adjusts the rate based on market conditions. Though the lender expects
you to pay off your loan in the future, you can send a little extra
every month to pay off your mortgage faster. Though this reduces your
debts when you retire, you should always check if there are any
penalties associated with paying off your mortgage early.

Talk With Your Employer

Have a sit down with your employer to talk about the retirement options
open to you. You may have access to a 401(k) or a similar program that
automatically takes a small amount from each check and puts that cash
into your retirement fund. Some companies offer other programs like a pooled investment vehicle. These programs take all the money that
employees pay in and make investments on their behalf. The right
programs can help you save hundreds of thousands of dollars for your
golden years.

Make Investments

Regardless of your age, making smart investments can significantly help
you in the future. The more money you make off those investments, the
more money you have to travel, go back to school or do anything else you
want to do. Work with a broker who can advise you on which stocks are
the hottest. You can also look for unique investment opportunities like
investing in real estate. Buying rental homes will help you make extra
money each month after you retire. Whether you're a recent college
graduate or a professional with decades of experience, it's never too
early or too late to think about planning for your retirement.

Wednesday, October 12, 2016

These days business owners certainly need to worry about their data being compromised. According to CNN, cyber criminals on average cost a company $15 million a year. Obviously, this is no laughing matter. However, what you may not know is that much of this damage is often caused by negligent employees leaking sensitive company data. Here are four reasons why this is so:

1. Not Keeping Sensitive Data inside the Network

Companies, both large and small, have a lot of sensitive data. This can include things like customer billing information, trade secrets, research data and more. Such data must be kept inside the organization and only shared through programs that are part of the company network so that access is denied to outsiders. However, if this data is shared through third party apps, e-mail services, collaboration software and instant messengers that are not part of the company network, it will reach third parties as a default since those services use their own servers.

2. Using Insecure Devices

Like how all programs used to access company data should be part of the network, all devices used to access the network should also be verified as secure. While a Bring Your Own Device policy may seem like a clever cost savings measure, it can certainly cost you in the long run if company data accessed on those devices ends up in the wrong hands.

3. Responding to Phishing Scams

Insecure e-mail is certainly one way that cyber criminals gain access to the information they want to steal. Unfortunately, unsuspecting employees often fall directly into such schemes. One of the most often deployed strategies for gaining access to sensitive data is the use of phishing scams. The hacker will send an e-mail claiming to either be the company that the employee works for or a business partner. The e-mail will instruct the employee to supply information such as passwords, social security numbers, or other sensitive information in a reply e-mail or on a linked to website controlled by the criminal.

4. Lack of Knowledge

Overall, you can’t expect employees to intuitively know how to protect company data and avoid schemes put in place by hackers, corporate spies and cyber criminals. That is why security awareness training guides are paramount. All employees that have access to company computers or even simply company offices must be trained on how to maintain tight cyber and data security at all times.

Overall, make data and cyber security a priority at all levels within your company. The risks of not doing so are too high. You could have vital information stolen, and that could cost you millions in lost revenue, bad PR and class action lawsuits.

About the Author:

Hannah Whittenly is a freelance writer and mother of two from Sacramento, CA. She graduated from the University of California-Sacramento with a degree in Journalism. If your company is looking for a security awareness training guide, she recommends that you check out Global Learning Systems.